Omada Health (NASDAQ:OMDA) Stock Falls 5.8% – Time to Sell?

Omada Health, Inc. (NASDAQ:OMDA)’s stock price was down 5.8% on Tuesday. The stock traded as low as $20.76 and last traded at $20.6050. 64,557 shares were traded during mid-day trading, a decline of 95% from the average session volume of 1,261,191 shares. The stock had previously closed at $21.87.

Analysts Set New Price Targets

OMDA has been the subject of several research reports. Morgan Stanley restated an “overweight” rating and set a $30.00 price objective on shares of Omada Health in a research note on Monday, June 22nd. Barclays increased their price objective on shares of Omada Health from $25.00 to $27.00 and gave the stock an “overweight” rating in a research note on Friday, September 11th. BMO Capital Markets reiterated an “outperform” rating and issued a $24.00 price objective on shares of Omada Health in a research note on Friday, August 7th. Citigroup reissued an “outperform” rating on shares of Omada Health in a report on Friday, August 14th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Omada Health from $26.00 to $30.00 and gave the company an “overweight” rating in a research report on Friday, August 14th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $26.67.

Omada Health Stock Down 11.7%

The firm has a 50-day moving average of $21.92 and a two-hundred day moving average of $18.99. The company has a market capitalization of $1.18 billion, a PE ratio of 386.94 and a beta of 2.03.

Omada Health (NASDAQ:OMDA) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.10. The business had revenue of $87.83 million for the quarter, compared to analysts’ expectations of $80.93 million. Omada Health had a net margin of 1.39% and a return on equity of 2.60%. Equities analysts predict that Omada Health, Inc. will post 0.09 EPS for the current fiscal year.

Insider Activity

In other Omada Health news, CFO Steven Cook sold 6,800 shares of Omada Health stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $21.86, for a total value of $148,648.00. Following the completion of the transaction, the chief financial officer owned 173,906 shares of the company’s stock, valued at approximately $3,801,585.16. The trade was a 3.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Wei-Li Shao sold 4,036 shares of the company’s stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $21.85, for a total transaction of $88,186.60. Following the completion of the transaction, the president owned 295,313 shares of the company’s stock, valued at approximately $6,452,589.05. This trade represents a 1.35% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 127,642 shares of company stock worth $2,915,201 in the last ninety days. Corporate insiders own 6.38% of the company’s stock.

Hedge Funds Weigh In On Omada Health

Large investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in Omada Health in the 2nd quarter worth $48,775,000. SG Americas Securities LLC purchased a new position in Omada Health during the first quarter valued at $10,401,000. Jefferies Financial Group Inc. purchased a new position in Omada Health during the second quarter valued at $15,016,000. Madryn Asset Management LP acquired a new stake in shares of Omada Health in the second quarter valued at about $12,814,410. Finally, Walleye Capital LLC acquired a new stake in shares of Omada Health in the second quarter valued at about $11,648,000.

About Omada Health

Omada Health, Inc is a digital health company that provides virtual care programs for people managing chronic conditions. Its platform combines connected health devices, digital tools, health coaching and clinical support to help members improve their health and manage conditions such as diabetes, hypertension and musculoskeletal disorders.

The company’s services are designed for employers, health plans and other healthcare organizations seeking to support populations with ongoing healthcare needs.